Regions West | San Diego
June 17, 2008
Accounting for a total of 211 units, three apartment complexes in San Diego, Calif., have been snapped up in a deal valued at a sum of nearly $31.5 million. Klingbeil Capital Management acquired the assets from Mabie & Mintz Inc.. The properties include Villa del Flores, a 90-unit complex located on an approximately 3.5-acre parcel at 7707 Mission Road. Consisting of four two-story buildings, Villa del Flroes encompasses an aggregate 60,200 square feet, and was developed just over three decades ago. Klingbeil also got its hands on the 56-unit Park East apartments property, which occupies just under one acre at 111 West Pennsylvania Avenue in the city's Uptown District. The three-story structure consists of about 36,400 square feet. The third residential property Klingbeil snapped up is the 65-unit San Carlos Townhouse Apartments at 6867 Golfcrest Drive. Featuring three two-story structures and a single two-story utilities building, the property encompasses a total of 62,100 square feet. CB Richard Ellis represented the seller in the transaction, while buyer relied on internal representation.
Accounting for a total of 211 units, three apartment complexes in San Diego, Calif., have been snapped up in a deal valued at a sum of nearly $31.5 million. Klingbeil Capital Management acquired the assets from Mabie & Mintz Inc.. The properties include Villa del Flores, a 90-unit complex located on an approximately 3.5-acre parcel at 7707 Mission Road. Consisting of four two-story buildings, Villa del Flroes encompasses an aggregate 60,200 square feet, and was developed just over three decades ago. Klingbeil also got its hands on the 56-unit Park East apartments property, which occupies just under one acre at 111 West Pennsylvania Avenue in the city's Uptown District. The three-story structure consists of about 36,400 square feet. The third residential property Klingbeil snapped up is the 65-unit San Carlos Townhouse Apartments at 6867 Golfcrest Drive. Featuring three two-story structures and a single two-story utilities building, the property encompasses a total of 62,100 square feet. CB Richard Ellis represented the seller in the transaction, while buyer relied on internal representation.
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